Real estate firm directors arrested for project fraud
Posted by propertyagentsindia on July 19th, 2012
FARIDABAD/GURGAON: The state crime branch has arrested the directors of Pal Infrastructure and Developers Pvt Ltd on charges of fraud in their Faridabad project. The developer failed to deliver its project in the stipulated time frame and its refund cheques to the home buyers bounced due to non-availability of funds. The two directors, Rajesh Kumar and Manav Chandra, were arrested on Monday and sent to police custody for interrogation. “The developers had purchased five acres of land parcel in the Neherpaar area near Faridabad, from Triveni Group in 2006. The Pal Group further purchased %5.5 acres of land during %the same time,” said Bijender Singh, Superintendent %of Police, state crime [...]
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